Alliance Bank You:nique Review: A Truly One-of-a-Kind Credit Card?

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Alliance Bank You:nique Review
In this age of the millennials who believe in not being part of the crowd and charting their own course, anything that isn’t run of the mill is sure to catch the eye. What’s even better is when such exclusive products define their own category.

When it comes to credit cards, you’re probably limited to the usual types – air miles, reward points, and cashback. But, if you’re in search of something truly exclusive, you should check out the Alliance Bank You:nique Credit Card.

First up, this credit card lets its users personalise the look of the card by having a picture of them on it. Now that’s really unique!

But the uniqueness doesn’t end at the personalised look of the Alliance Bank You:nique Credit Card. Read our review to find out more.

Choose features that you want in your credit card

A common error that happens when you’re new to the world of credit cards is you end up with a card whose benefits don’t really match up to your spending patterns and lifestyle requirements. For instance, if you get a travel credit card when you don’t travel that often, you won’t be able to make the most of the card’s features.

The Alliance Bank You:nique Credit Card saves you the hassle of ending up with the wrong features by letting you choose them. To put things into perspective, there are three variants of the credit card focusing on three main features that you can choose from – rebates, rates, and rewards.

Let’s take a closer look at each variant and see what it’s all about.

Related: Citi Cash Back Card Review: How Good Is This Rebates Credit Card?

The Alliance Bank You:nique Rebates Credit Card

Alliance Bank You:nique Review

Image source: Alexas_Fotos/Pixabay

First up is the rebates variant of this credit card. To begin with, it offers an attractive cashback rate on all your retail transactions no matter what you’re spending on. What’s more? There’s no limit on the amount of cashback you can earn on all your retail spends.

Features and benefits

  • Earn up to 3% unlimited cashback on all retail spends
  • Enjoy a no-condition annual fee waiver for the first 3 years
  • Get the annual fee of RM148 waived for subsequent years by spending at least RM5,000 p.a. or charging the card a minimum of 12 times in a year

Here’s how the rebates programme for this card works:

Minimum Monthly Spend

Applicable Cashback Rate

RM0 – RM1,000

0.5%

RM1,001 – RM2,000

1.5%
RM2,001 – RM3,000

3%

More than RM3,000

0.3%

Wondering how good this credit card is for rebates? A quick comparison with a similar cashback credit card—the Standard Chartered Cashback Platinum Credit Card—shows that the Alliance Bank credit card comes up trumps.

Firstly, this card offers unlimited cashback on all retail spends. The annual fee is also comparatively lower (RM148 against RM175 of the Standard Chartered card) and can be waived with ease. That’s not all — there’s no restriction on where you need to shop and what you need to spend on to earn cashback.

Liked this card? Apply for it now on Bbazaar and get exciting free gifts!

Alliance Bank You:nique Rebates Credit Card
Card Type : Cashback
Bbazaar promotion : PARKSON Gift Voucher worth RM150. T&Cs apply
Apply Now
  • Up to 3% unlimited cashback on all retail purchases every month

    Get to personalise the look of your credit card

  • Minimum income – RM24,000 p.a.

    Minimum age – 21 years old

    For Salaried Professionals (MNCs/PLCs & Non MNCs/PLCs): Copy of NRIC (both sides) or a valid passport, last 3 months’ salary slip, last 3 months’ bank statement showing salary being credited, latest EPF statement, or latest Borang BE with official tax receipt/bank-in slip

    For Self-Employed Professionals: Copy of NRIC (both sides) or a valid passport, last 6 months’ bank statement, Business Registration Form and Form D or Form 9, 24, 49, latest EPF statement, or tax return form with official tax receipt

  • Annual fee: Principal card – RM148 (with 0% GST). Waived for first 3 years. Subsequent years waived if card is charged at least RM5,000 p.a. or used 12 times. Supplementary card – RM30 (with 0% GST)

    Interest rates: 15-18% p.a.

    Late payment fee: 1% of the outstanding balance subject to a minimum of RM10 and a maximum of RM100

Related: Standard Chartered Cashback Platinum Mastercard Review: How Good Is This Credit Card for Rebates?

The Alliance Bank You:nique Rates Credit Card

Alliance Bank You:nique Review

Image source: jannoon028/Freepik

The second variant of this card—the Alliance Bank You:nique Rates Credit Card—is solely focused on the applicable interest rate. With this card, you can enjoy a low-interest rate of 9% p.a. on your unpaid balance for the first year.

You can continue to use the card with the same interest rate of 9% p.a. after 12 months if you’ve made all your previous card payments on time. The annual fee for this card is waived for the first 3 years as well. Thereafter, you’ll have to spend a minimum of RM5,000 p.a. or charge your card at least 12 times over a year.

Related: Infographic: 7 Credit Cards That Help You Save More on Grocery Spends

Features and benefits

  • Enjoy a low interest rate of 9% p.a. on your unpaid card balance for the first 12 months
  • The annual fee is waived for the first 3 years

When it comes to a credit card with a low-interest rate, the Alliance Bank You:nique Rates Credit Card has only the AmBank TRUE Visa Credit Card for competition.

Although the Alliance Bank card’s interest rate is comparatively higher when compared to what the AmBank card is offering for the first year, it does offer lower interest rates from the second year onwards – 9% p.a. with prompt payments (Alliance Bank) as opposed to 12% p.a. with prompt payments (AmBank).

Liked this card? Apply for it now on Bbazaar and get exciting free gifts!

Alliance Bank You:nique Rates Credit Card
Card Type : Interest Rate
Bbazaar promotion : PARKSON Gift Voucher worth RM150. T&Cs apply
Apply Now
  • Enjoy a low interest rate of 9% p.a.

    Get to personalise the look of your credit card

  • Minimum income – RM24,000 p.a.

    Minimum age – 21 years old

    For Salaried Professionals (MNCs/PLCs & Non MNCs/PLCs): Copy of NRIC (both sides) or a valid passport, last 3 months’ salary slip, last 3 months’ bank statement showing salary being credited, latest EPF statement, or latest Borang BE with official tax receipt/bank-in slip

    For Self-Employed Professionals: Copy of NRIC (both sides) or a valid passport, last 6 months’ bank statement, Business Registration Form and Form D or Form 9, 24, 49, latest EPF statement, or tax return form with official tax receipt

  • Annual fee: Principal card – RM148 (with 0% GST). Waived for first 3 years. Subsequent years waived if card is charged at least RM5,000 p.a. or used 12 times. Supplementary card – RM30 (with 0% GST)

    Interest rates: 15-18% p.a.

    Late payment fee: 1% of the outstanding balance subject to a minimum of RM10 and a maximum of RM100

Related: 5 Credit Cards That Give the Best Value for Overseas Spends

The Alliance Bank You:nique Rewards Credit Card

Alliance Bank You:nique Review

Image source: fanjianhua/Freepik

The last variant of this card is the Alliance Bank You:nique Rewards Credit Card. This card lets you earn reward points on all your retail spends except petrol and government agency transactions. You also get automatically enrolled into the Alliance OneBank Rewards Program that lets you earn Timeless Bonus Points on all Alliance Bank financial products.

Features and benefits

  • Earn 2x Timeless Bonus Points for every RM1 that you spend with this card
  • Get the annual fee waived for free for the first three years
  • To get the annual fee waived after three years, spend a minimum of RM5,000 p.a. or charge the card at least 12 times in a year

While the number of reward points on offer for this card might not be very big, it more than makes up for it by letting you earn points on all kinds of transactions made with your card. Apart from the regular retail spends, you can earn points when you use this card to get any other Alliance Bank financial product.

Liked this card? Apply for it now on Bbazaar and get exciting free gifts!

Alliance Bank You:nique Rewards Credit Card
Card Type : Rewards
Bbazaar promotion : PARKSON Gift Voucher worth RM150. T&Cs apply
Apply Now
  • Earn 2x Timeless Bonus Points on every RM1 spent using this card

    Get to personalise the look of your credit card

  • Minimum income – RM24,000 p.a.

    Minimum age – 21 years old

    For Salaried Professionals (MNCs/PLCs & Non MNCs/PLCs): Copy of NRIC (both sides) or a valid passport, last 3 months’ salary slip, last 3 months’ bank statement showing salary being credited, latest EPF statement, or latest Borang BE with official tax receipt/bank-in slip

    For Self-Employed Professionals: Copy of NRIC (both sides) or a valid passport, last 6 months’ bank statement, Business Registration Form and Form D or Form 9, 24, 49, latest EPF statement, or tax return form with official tax receipt

  • Annual fee: Principal card – RM148 (with 0% GST). Waived for first 3 years. Subsequent years waived if card is charged at least RM5,000 p.a. or used 12 times. Supplementary card – RM30 (with 0% GST)

    Interest rates: 15-18% p.a.

    Late payment fee: 1% of the outstanding balance subject to a minimum of RM10 and a maximum of RM100

Related: Love Cashback? Here Are 5 Credit Cards You Must Check Out

Eligibility criteria for either of the Alliance Bank You:nique cards

Minimum income required RM24,000 p.a.
Minimum age criteria for the principal cardholder 21 years old
Minimum age criteria for the supplementary cardholder 18 years old

Documents required

For salaried professionals (MNCs/PLCs & Non MNCs/PLCs)
  • Copy of NRIC (both sides) or a valid passport, and
  • Last 3 months’ salary slip, or
  • Last 3 months’ bank statement showing salary being credited, or
  • Latest EA form, or
  • Latest EPF Statement, or
  • Latest Borang BE with official tax receipt/bank-in slip
For self-employed individuals
  • Copy of NRIC (both sides) or a valid passport, and
  • Business Registration Form and Form D or Form 9, 24, 49, or
  • Last 6 months’ bank statement, or
  • Latest EPF Statement, or
  • Tax return form with official tax receipt

Fees and charges

Interest Rates 15% p.a. – 18% p.a. (You:nique Rebates and Rewards Credit Cards)
9% p.a. (You:nique Rates Credit Card)
Annual Fees – Principal Card RM148 (with 0% GST). Annual fees is waived for the first 3 years. The annual fee for subsequent years can be waived with a minimum spend of RM5,000 p.a. or charging the card at least 12 times within a 12-month period
Annual Fees – Supplementary Card RM30 (with 0% GST)
Minimum Monthly Repayment The higher amount between 5% of the total outstanding balance and RM50
Late Payment Charges The higher amount between 1% of the total outstanding balance and RM10. This charge is limited to an amount of RM100

Related: Where Luxury Meets Convenience: 5 Premium Credit Cards and Their Unique Benefits

Promotional offers that you should know

Alliance Bank You:nique Review

A screenshot of Alliance You:nique website

It’s all well and good when you know about all the features and benefits of any credit card. But, to get the maximum value from it, you’ll need to be aware of all its promotional offers too. Here are the top ongoing promotions for the Alliance Bank You:nique Credit Card:

  • Transfer a minimum of RM3,000 as the outstanding balance from another bank’s card to your Alliance Bank credit card and enjoy 0% interest for up to 6 months with the Balance Transfer Flexi 0% for 6-Month Plan. This offer is valid until 30 January 2019
  • Redeem the Timeless Bonus Points you’ve earned for a wide range of lifestyle products and rewards at reduced redemption rates. This offer is valid until 30 September 2018
  • Get movie tickets for low prices starting from RM12 throughout the week at TGV Cinemas when you pay with your Alliance Bank Mastercard Credit Card. All you need to do is book the tickets on the TGV mobile app
  • Get 6% off throughout the year on selected merchandise at participating REEBONZ outlets and on the official website. Remember to use the promo code—MCMY6—when you make the payment with your Alliance Bank Mastercard Credit Card. This offer is valid until 31 December 2018

Related: 7 Credit Cards with Great Online Shopping Benefits

Does the card have any drawbacks?

With so much talk revolving around what’s good about this credit card, it’s time we looked at the other side as well – the drawbacks. Here are some noteworthy drawbacks of the Alliance Bank You:nique Credit Card:

  • To earn the maximum cashback rate of 3% on all your retail spends using the Alliance Bank You:nique Rebates Credit Card, you’ll need to spend a minimum of RM2,000 in a month
  • The cashback rate drops to a lowly 0.3% once you spend over RM3,000 in a month
  • The number of reward points you can earn for retail transactions made with the Alliance Bank You:nique Rewards card — 2 Timeless Bonus Points for every RM1 spent — isn’t very high when compared to some other options like Standard Chartered Visa Platinum (5 reward points for every RM1 spent on dining, departmental store purchases and overseas expenses).

Verdict

To sum things up, the fact that there aren’t many drawbacks to consider is proof that this card offers good value no matter which variant you’re looking at. Also, the interesting feature to have a crazy photograph of yours on the credit card just makes things way cooler!

You may also like our other credit card reviews:

All information provided in this article/blog, published on this website is strictly for general information purpose only. BBazaar does not provide any warranty about the authenticity and accuracy of such information. BBazaar will not be held responsible for any loss and/or damage that arises or is incurred by use of such information.

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